Chana futures up on pick-up in demand
Chana prices rose by Rs 9 to Rs 3,395 per quintal in futures trade today mostly supported by rising demand in the spot markets. However, expectations of higher output and rising arrivals from the new season crop in the physical market restricted the gains. At the National Commodity Derivatives Exchange, chana for delivery in April rose by Rs 9, or 0.27 per cent, to Rs 3,395 per quintal, with an open interest of 73,590 lots. Likewise, the commodity for delivery in May traded higher by Rs 8, or 0.24 per cent, to Rs 3,384 per quintal in 65,300 lots. Analysts said the rise in chana prices at futures trade was mostly attributed to strong demand in the spot market.
TRADING TIP :
* SELL TMC APR
BELOW 6870
TGTS 6770/6600
SL 7050
* BUY DHANIYA
APR AROUND
6660 TGTS
6760/6870
SL 6460

WEEKLY MARKET ANALYSIS

ïƒ˜ Pepper
ïƒ˜ Pepper prices moved up by Rs 165 to Rs 36,045 per quintal in futures trading today as speculators created fresh positions, supported by a rise in demand in the spot market. However, estimates of a higher output this season limited the gains. At the National Commodity and Derivatives Exchange, pepper for delivery in April month rose by Rs 165, or 0.46 per cent, to Rs 36,045 per quintal, with an open interest of 1,427 lots. Similarly, the spice for delivery in March moved up by Rs 115, or 0.31 per cent, to Rs 37,270 per quintal in 675 lots. Analysts attributed the rise in pepper prices at futures trade to fresh positions builtup by speculators on the back of pick in demand in the spot market

ïƒ˜ Chilli
Arrivals of chilli crop were steady above 50,000 bags; however off-take has declined on dull demand at auctions held at Guntur market. Spot rates were down by Rs80-Rs100 per quintal while futures too were down by 1.5-2percent.Arrivals of jeera crop increased to 38,000 bags while demand was reported steady ~35,000 bags at auctions held at Unjha market. Spot rates are trading firm at Rs133-Rs134 per kg with strong demand seen among exporters & stockiest, as per local traders. Spot rates of pepper garbled were steady at Rs366 per kg and that of un-garbled was unchanged at Rs351 per kg. Arrivals stood at 67 tons, but trades decline to 65 tons at auctions held at Kochi market, as per IPSTA.

ïƒ˜ Turmeric
ïƒ˜ Turmeric futures retreated from a contract high to trade down on Friday as mounting stocks and supplies from the new season crop offset concerns over lower output. NationalCommodity and Derivatives Exchange (NCDEX) has imposed a 10 per cent special margin on long-side turmeric contracts effective Mar. 14.At 0900 GMT, the most-active turmeric contract for April delivery on the NCDEX was 0.54 per cent lower at 7,024 rupees per 100 kg. It hit a contract high of 7,142 rupees earlier in the day.

ïƒ˜ Jeera
ïƒ˜ Jeera prices moved down by 1.03 per cent to Rs 13,245 per quintal in futures trade today as speculators reduced their positions, triggered by expectations of higher output this season. At the National Commodity and Derivatives Exchange, jeera for delivery in March moved down by Rs 137.50, or 1.03 per cent to Rs 13,245 per quintal, with an open interest of 646 lots. In a similar fashion, the spice for delivery in April lost Rs 87.50, or 0.65 per cent, to Rs 13,330 per quintal in 11,334 lots. Market analysts attributed the fall in jeera futures to offloading of positions by speculators on expectations of higher output this season

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